Automotive Power Electronics Market Size, Share, Growth Analysis, By Device(power IC, and module & discrete), By Application(ADAS & safety, body control & comfort, infotainment, telematics), By Region - Industry Forecast 2024-2031

Drivers

Increasing Usage of Electric Vehicles across the World

• An accelerating trend towards electric vehicles (EVs) is propelling the conservation of our environment to new heights. With the shift from fossil fuels to electricity, EVs offer significant sustainability benefits. This transformation towards electric mobility in the transportation industry is driving global demand for automotive power electronics. These crucial components are responsible for regulating and optimizing electrical energy flow within EV systems, including lighting, heating and ventilation, and entertainment. Due to their impressive efficiency, the use of MOSFETs in power electronic switches has led to a reduction in overall size, further fueling the demand for EVs worldwide.

Restraints

Complex design and integration process for advanced applications

• The automotive power electronics industry is experiencing a transformation as multiple functions are now being integrated into a single chip. This shift towards integration has led to more intricate design processes. It is driven by the industry's demand for advanced and cost-efficient solutions that offer improved power efficiency, reduced switching losses, and smaller module sizes. However, with more advanced technology comes the challenge of high switching frequencies, presenting unique design obstacles. The complexity of controlling these algorithms can decrease switching speed and ultimately impact performance. Additionally, some devices require special cooling solutions, posing a challenge for design engineers.